Which of these is an incorrect statement regarding estimated tax payments? If the taxpayer's AGI for 2020 was more than $150,000 (or more than $75,000 if their 2021 filing status is MFS), they must prepay 110% of their 2020 tax. If at least two-thirds of the taxpayer's 2020 or 2021 gross income comes from farming or fishing, they are required to prepay only two-thirds of their 2020 tax. An employee required to pay estimated tax may direct their employer to withhold extra income tax from their wages by providing the employer with a new Form W-4 instead of making estimated tax payments. Form 1040-ES must be filed for 2021 if estimated tax is $500 or more.

The maximum tax rate on estates and gifts

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

The purchasing agent for a company that assembles and sells air-conditioning equipment in a latin american country noted that the cost of compressors has increased significantly each time they have been reordered. the company uses an eoq model to determine order size. what are the implications of this price escalation with respect to order size? what factors other than price must be taken into consideration?